IMF Says U.S. Sanctions Have Pushed Iran's Economy Into Recession
IMF Says U.S. Sanctions Have Pushed Iran's Economy Into Recession
PM Imran Khan chairing the Punjab cabinet meeting. — PTI
10 October, 2018, 03:43
The IMF said in an update to its World Economic Outlook it was now predicting 3.7% global growth in both 2018 and 2019, down from its July forecast of 3.9% growth for both years.
While the global economy is still on track to match last year's pace, which was the strongest since 2011, the new outlook suggests fatigue is setting in and the overall performance masked divergence with mounting weakness in emerging markets from Brazil to Turkey. U.S. President Donald Trump has frequently accused China of manipulating its currency for a trade advantage.
"China and a number of Asian economies are also projected to experience somewhat weaker growth in 2019 in the aftermath of the recently announced trade measures", it said.
Higher trade barriers also slow the spread of technology and lower productivity and welfare in many countries, the International Monetary Fund said.
"Securing US approval on the IMF Executive Board will require Pakistan to strike a fine geopolitical balance between the Trump administration's concerns over China's growing economic engagement in Pakistan and the country's bilateral commitments", said Bilal Khan, a senior economist at Standard Chartered Plc.
U.S. stimulus also adds to the "already-unsustainable" debt and deficit that will undercut future growth, the reportwarned.
Germany, the economic powerhouse of Europe, could be particularly hard hit by a drop in manufacturing orders and trade volumes. "In Nigeria, inflation is projected to fall to 12.4 percent in 2018, from 16.5 percent in 2017, and to rise to 13.5 percent in 2019", the report read.
The fund also slightly lowered its forecast for Japan's economy to 1.1 per cent growth in 2018, down 0.1 of a percentage point from an April estimate, but maintained a prediction for a 0.9 per cent Japanese expansion in 2019.
The growth is being "driven by a pickup in non-oil economic activity and a projected increase in crude oil production in line" agreed by the Organization of the Petroleum Exporting Countries and independent producers, the International Monetary Fund said. The IMF talked about continued capital outflows from emerging market economies and pressure on exchange rates because of monetary normalisation in the US. "For an economy that has become addicted to foreign loans and bailouts, the future is very much like the past", said Uzair Younus, a South Asia director at Washington-based consultancy Albright Stonebridge Group LLC. "Any sharp reversal for emerging markets would pose a significant threat to advanced economies", he added.
The unprecedented changes called for by the group include transitions in land, energy, industry, buildings, transport, and cities. The report notes that there are historic precedents for the speed we need, although not for the scale of required mitigation.
Shannon remembers how previous hurricanes knocked out power in Florida's capital city, so he knows what's possible with Michael. Eric O'Neal and his wife, Mariana, watch the waves as Hurricane Michael approaches land in Pensacola, Fla., on October 9.
Part 2 once again follows filmmakers Laura Ricciardi and Moira Demos as they continue to shed insight on the Avery case. The first trailer for the much-anticipated second season of Netflix's Making a Murderer has been unveiled.
If there are still files in the "Documents" folder then you're not affected by the issue, according to another tweet from Sarkar. After you apply this update , the network interface controller may stop working on some client software configurations.
Devo , John Prine , MC5, Roxy Music , Todd Rundgren , Rufus and Chaka Khan, and The Zombies make up the final list of nominees. Both Kraftwerk and LL Cool J have made it to nominee status the most times in previous years with five appearances each.
Other rights groups and activists have also called for investigations to be intensified to shed light on his fate. Turkish officials are trying to identify them as part of their probe into Khashoggi's disappearance.
It all started when Hanson's mother used a photo of her son in a Navy uniform to criticize the #MeToo movement on Monday night. The tweet, since deleted, had been widely shared, immediately casting Hanson as the poster boy for the #HimToo movement.
In 2010, global negotiators adopted a goal of limiting warming to 2 degrees C (3.6 degrees F) since pre-industrial times. But that number is an average of temperatures all over the globe, so some places will become significantly hotter.
Global Warming of 1.5 °C is the first in a series of Special Reports to be produced in the IPCC's Sixth Assessment Cycle. The concept refers to how much carbon dioxide can be emitted before temperatures rise beyond a given threshold.
While sources have stated that McGregor's cornerman incited Khabib's actions, the fighter faces major punishment from the UFC. After a lengthy delay, Nurmagomedov eventually addressed a media conference . "I know this is not my best side".
According to The Washington Post , more than 105,000 new people registered on the site to vote within 48 hours of Swift's post . As is the case in many states , Tuesday is the deadline to register to vote in Tennessee in time for the November 6 election.
Ramaphosa is said to favour Mboweni as new finance minister
The announcement led to a strengthening of the South African currency, the rand, which had weakened after earlier reports of Mr. Ajay Gupta said in an affidavit that he'd never met with Jonas and the accusation was an 'intentional fabrication'.
Google Quietly Launches Third-Gen Chromecast
Google has gotten rid of the Chrome logo, replacing it with its own logo and introducing a gorgeous matte finish. As best we can tell there are no other new features for the 3rd gen Chromecast 2018 model.
Nikki Haley Resigns as U.S. Envoy to the United Nations
She insisted that she was going out on a high and would remain loyal to Trump. "It has been an honour of a lifetime". He also said the pair had "solved a lot of problems". "Maybe a different capacity, you can have your pick".
Watch Brewers vs. Rockies in Major League Baseball playoffs
Say what you will about the Brewers' unorthodox strategy, but the two pitchers who started for them have not given up a run. Opposing Miley will be German Marquez , who was last seen in Monday's tiebreaker game against the Los Angeles Dodgers .
Google+ will be shut down following security bug
So, for example, your default messaging app will have access to SMS permissions, and the default dialer can access Call Logs. Google admitted in the blog post disclosing the bug that usage of Google+ has dropped off in recent years.